Garmin (GRMN) director reports RSU award and 215-share tax withholding

Rhea-AI Filing Summary

Garmin Ltd. director Jonathan Burrell reported routine equity compensation and related tax withholding. He acquired 753 registered shares through a restricted stock unit grant under the Garmin Ltd. Non-Employee Directors' Equity Incentive Plan, scheduled to vest on June 5, 2027.

A prior restricted stock unit award from June 6, 2025 released 858 shares, of which 215 shares were withheld at $236.57 per share to pay the resulting tax liability. Following these direct transactions, he holds 9,889 registered shares directly, alongside substantial indirect holdings through trusts, GRATs, and LLCs where he serves as trustee or manager and disclaims beneficial ownership beyond his pecuniary interests.

Insider Trade Summary

7 transactions reported

Mixed 7 txns

Insider BURRELL JONATHAN

Role null

Type	Security	Shares	Price	Value
Tax Withholding	Registered Shares	215	$236.57	$51K
Grant/Award	Registered Shares	753	$0.00	--
holding	Registered Shares	--	--	--
holding	Registered Shares	--	--	--
holding	Registered Shares	--	--	--
holding	Registered Shares	--	--	--
holding	Registered Shares	--	--	--

Holdings After Transaction: Registered Shares — 9,889 shares (Direct, null); Registered Shares — 1,733,300 shares (Indirect, By GRATs)

Footnotes (1)

1. Shares acquired pursuant to a grant of restricted stock units under the Garmin Ltd. Non-Employee Directors' Equity Incentive Plan. The award vests on June 5, 2027. Includes the 753 unvested shares acquired pursuant to the grant of restricted stock units described in Footnote 1 and 858 unvested shares acquired pursuant to a previously granted restricted stock unit award. 858 shares that were acquired pursuant to an award of restricted stock units on June 6, 2025 and were released to the reporting person. Of these 858 shares, 215 shares were withheld to pay a resulting tax liability. Includes the 753 unvested shares acquired pursuant to the grant of restricted stock units described in Footnote 1. The reporting person is a co-trustee of multiple grantor retained annuity trusts (GRATs) established by him, and his children hold the remainder interests therein. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interests therein. The reporting person is a co-trustee of several grantor retained annuity trusts (GRATs) established by his mother, and he holds a remainder interest therein. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein. The reporting person is the manager of several limited liability companies that are wholly-owned by a GRAT remainder trust established for the reporting person's benefit. The reporting person is a co-trustee of a GRAT remainder trust established for his benefit.

Key Figures

RSU grant: 753 shares RSU vesting date: June 5, 2027 Prior RSU release: 858 shares +5 more

8 metrics

RSU grant 753 shares Restricted stock unit grant under Non-Employee Directors' Equity Incentive Plan

RSU vesting date June 5, 2027 Vesting date for 753-share restricted stock unit award

Prior RSU release 858 shares Shares released from a restricted stock unit award on June 6, 2025

Tax-withheld shares 215 shares Shares withheld to pay tax liability from 858-share RSU release

Tax withholding price $236.57 per share Price applied to the 215 withheld shares for tax payment

Direct holdings after transactions 9,889 shares Registered shares held directly by Jonathan Burrell following reported events

Indirect GRAT holdings 4,591,752 shares Registered shares held indirectly by GRATs where Burrell is co-trustee

Additional GRAT holdings 1,733,300 shares Registered shares held indirectly by other GRATs established by family

Key Terms

restricted stock units, Non-Employee Directors' Equity Incentive Plan, grantor retained annuity trusts (GRATs), tax-withholding disposition, +1 more

5 terms

restricted stock units financial

"Shares acquired pursuant to a grant of restricted stock units under the Garmin Ltd. Non-Employee Directors' Equity Incentive Plan."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

Non-Employee Directors' Equity Incentive Plan financial

"grant of restricted stock units under the Garmin Ltd. Non-Employee Directors' Equity Incentive Plan."

grantor retained annuity trusts (GRATs) financial

"The reporting person is a co-trustee of multiple grantor retained annuity trusts (GRATs) established by him."

tax-withholding disposition financial

"215 shares that were acquired pursuant to an award of restricted stock units ... were withheld to pay a resulting tax liability."

A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.

pecuniary interests financial

"The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interests therein."

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Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

BURRELL JONATHAN

(Last) (First) (Middle)

6300 WEST 143RD STREET

(Street)

OVERLAND PARK KANSAS 66223

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
GARMIN LTD [ GRMN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/05/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Registered Shares	06/05/2026		A		753(1)	A	$0	10,104(2)	D
Registered Shares	06/06/2026		F		215(3)	D	$236.57	9,889(4)	D
Registered Shares								1,733,300	I	By GRATs(5)
Registered Shares								4,591,752	I	By GRATs(6)
Registered Shares								394,478	I	By LLCs(7)
Registered Shares								1,592,300	I	By trust(8)
Registered Shares								1,034,043	I	By trust

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Shares acquired pursuant to a grant of restricted stock units under the Garmin Ltd. Non-Employee Directors' Equity Incentive Plan. The award vests on June 5, 2027.

2. Includes the 753 unvested shares acquired pursuant to the grant of restricted stock units described in Footnote 1 and 858 unvested shares acquired pursuant to a previously granted restricted stock unit award.

3. 858 shares that were acquired pursuant to an award of restricted stock units on June 6, 2025 and were released to the reporting person. Of these 858 shares, 215 shares were withheld to pay a resulting tax liability.

4. Includes the 753 unvested shares acquired pursuant to the grant of restricted stock units described in Footnote 1.

5. The reporting person is a co-trustee of multiple grantor retained annuity trusts (GRATs) established by him, and his children hold the remainder interests therein. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interests therein.

6. The reporting person is a co-trustee of several grantor retained annuity trusts (GRATs) established by his mother, and he holds a remainder interest therein. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

7. The reporting person is the manager of several limited liability companies that are wholly-owned by a GRAT remainder trust established for the reporting person's benefit.

8. The reporting person is a co-trustee of a GRAT remainder trust established for his benefit.

	/s/Jonathan Burrell	06/08/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What did Garmin (GRMN) director Jonathan Burrell report in this Form 4 filing?

Jonathan Burrell reported routine equity compensation and related tax withholding. He received a restricted stock unit grant of 753 registered shares and had 215 shares withheld from a prior RSU release to cover taxes, without any open-market share purchases or sales disclosed.

How many Garmin shares were granted to director Jonathan Burrell and when do they vest?

Burrell received 753 registered shares through a restricted stock unit grant. These shares were awarded under Garmin’s Non-Employee Directors' Equity Incentive Plan and are scheduled to vest on June 5, 2027, meaning he must remain eligible through that date for the full award.

Why were 215 Garmin shares disposed of at $236.57 in Jonathan Burrell’s Form 4?

The 215-share disposition was a tax-withholding event, not an open-market sale. From an 858-share restricted stock unit release on June 6, 2025, 215 shares were withheld at $236.57 per share to satisfy the resulting tax liability associated with the vesting.

What are Jonathan Burrell’s direct Garmin share holdings after these transactions?

After the reported transactions, Burrell holds 9,889 registered shares directly. This amount reflects his position following the 753-share restricted stock unit grant and the 215-share tax withholding tied to the earlier 858-share restricted stock unit release in June 2025.

How does Jonathan Burrell hold additional indirect Garmin shares through trusts and GRATs?

Burrell is co-trustee or manager of several grantor retained annuity trusts, GRAT remainder trusts, and LLCs holding Garmin shares. He reports these as indirect holdings and expressly disclaims beneficial ownership beyond his pecuniary interests, since family members also hold remainder interests in these structures.

Does this Garmin Form 4 indicate open-market buying or selling by Jonathan Burrell?

The filing does not show open-market trades by Burrell. It reports a 753-share restricted stock unit grant as compensation and a 215-share tax-withholding disposition from an 858-share restricted stock unit release, which are routine equity award and tax settlement mechanisms rather than discretionary market transactions.